Most SMEs are under-insured, according to a survey of commercial brokers released today.

The survey, conducted by AXA Insurance, revealed over half of brokers questioned believed their SME clients do not have enough insurance for their working premises and 55% felt they needed more cover for their motor fleets.

Loss of income and the impact of large-scale fire and theft were also areas where cover was insufficient, according to the brokers surveyed.

Colin Calder, head of broker development at AXA Insurance, said: “Unfortunately very few small to medium sized businesses review their risk management programmes and in some cases, they don't even have any.”